reported a higher earnings margin for its cars segment on Thursday, with a rise to 12.1% in the first quarter from 8.9% a year earlier, but kept its outlook unchanged in the face of ongoing high costs and rising competition.
Sales were down 1.9% in Europe and 6.6% in China, attributed to inflation and the after-effects of the coronavirus pandemic - but an upward trend was visible in March and April, BMW said.
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BMW cars segment sees earnings boost on higher pricing, EV salesBMW confirmed its outlook for 2023 but warned of ongoing high costs and rising competition, particularly in China.
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